Trapital What's Next After Streaming? Troy Carter - Trapital Summit
Nov 27, 2024
Troy Carter, the Co-founder and CEO of Venice Music, shares insights from his experience managing superstar artists. He discusses the industry's shift towards independence and the necessity of creating more than just audio experiences. With the current seller's market for music distributors, he explores potential next revenue drivers for musicians beyond streaming. The conversation also touches on the rise of premium models, TikTok's challenges, and the transformative impact of technology on music's future.
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History Repeating Itself
- The music industry has repeatedly ceded control to new platforms like MTV, iTunes, and streaming services.
- Now, platforms like TikTok present similar challenges, demanding industry vigilance and control.
Optimism in Entrepreneurs
- Troy Carter expresses optimism about entrepreneurs driving change within the music industry.
- He believes major labels will not be the source of significant innovation.
Shifting Power Dynamics
- Independent artists previously faced limitations due to cash flow, often needing to sell or partner with major labels.
- Increased capital from private equity and streaming revenue now allows for more entrepreneurial independence.
